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Frank D’Amelio, Chief Financial Officer, stated, “Overall, I am pleased with our 2012 financial performance, our recent product approvals and our expense reductions, as evidenced by the $4.5 billion decline in adjusted cost of sales, SI&A expenses and R&D expenses (2) in the aggregate compared with 2011. Additionally, we completed an important strategic initiative through the sale of our Nutrition (1) business to Nestlé, and are ready to execute on another important strategic initiative with the potential initial public offering of up to a 19.8% stake in Zoetis (4), after having recently completed a related $3.65 billion debt offering. We continue to expect to allocate the proceeds from these transactions to share repurchases while also considering other value-creating opportunities, with the return on share repurchases remaining the case to beat.”

“We are also providing our initial 2013 financial guidance, including a range for revenues of $56.2 to $58.2 billion and for adjusted diluted EPS
(2) of $2.20 to $2.30. Our guidance reflects the benefit of a full-year contribution from Zoetis
(4), partially offset by an unfavorable $0.02 adjusted
(2) and reported
(3) diluted EPS impact for Zoetis
(4)-related interest expense associated with the $3.65 billion debt offering and certain duplicative and other costs given the potential separation of Zoetis
(4). Additionally, our revenue guidance reflects the anticipated negative impact of approximately $4 billion due to product losses of exclusivity and the near-term expiration of certain co-promotion agreements. We expect adjusted SI&A expenses
(2) to
be between $15.6 billion and $16.6 billion, with the mid-point below the 2012 level. Notably, we expect SI&A expenses will include substantial expenses associated with the launches of various key medicines, including Eliquis, Xeljanz and Prevnar/Prevenar 13 for adults, but plan to essentially offset those incremental expenses through our cost-reduction initiatives. Lastly, we expect to continue to deploy significant capital to share repurchases during the year,” concluded Mr. D’Amelio.

2013 Financial Guidance

Pfizer’s financial guidance is summarized below.

Reported Revenues

$56.2 to $58.2 billion

Adjusted Cost of Sales (2) as a Percentage of Revenues

19.0% to 20.0%

Adjusted SI&A Expenses (2)

$15.6 to $16.6 billion

Adjusted R&D Expenses (2)

$6.5 to $7.0 billion

Adjusted Other (Income)/Deductions (2)

Approximately $900 million

Effective Tax Rate on Adjusted Income (2)

Approximately 28.0%

Reported Diluted EPS (3)

$1.50 to $1.65

Adjusted Diluted EPS (2)

$2.20 to $2.30

The exchange rates assumed in connection with the 2013 financial guidance are as of mid-January 2013.